Zions Bancorporation N.A. Purchases 17,119 Shares of Neogen Co. (NASDAQ:NEOG)

Zions Bancorporation N.A. raised its position in Neogen Co. (NASDAQ:NEOG) by 17.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 116,916 shares of the company’s stock after buying an additional 17,119 shares during the quarter. Zions Bancorporation N.A.’s holdings in Neogen were worth $1,419,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Natixis Advisors LLC increased its stake in Neogen by 35.1% in the third quarter. Natixis Advisors LLC now owns 96,374 shares of the company’s stock valued at $1,620,000 after acquiring an additional 25,061 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Neogen by 126.8% in the 3rd quarter. Intech Investment Management LLC now owns 65,944 shares of the company’s stock valued at $1,109,000 after purchasing an additional 36,871 shares during the last quarter. Raymond James Trust N.A. acquired a new position in shares of Neogen during the 3rd quarter worth $182,000. Citigroup Inc. lifted its position in shares of Neogen by 129.1% during the 3rd quarter. Citigroup Inc. now owns 231,833 shares of the company’s stock worth $3,897,000 after buying an additional 130,641 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Neogen by 157.2% in the third quarter. BNP Paribas Financial Markets now owns 61,464 shares of the company’s stock valued at $1,033,000 after buying an additional 37,571 shares in the last quarter. 96.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NEOG shares. Piper Sandler reissued a “neutral” rating and issued a $13.00 target price (down previously from $16.50) on shares of Neogen in a report on Tuesday, January 21st. Guggenheim initiated coverage on shares of Neogen in a research note on Thursday, December 19th. They issued a “buy” rating and a $15.00 price objective for the company.

Neogen Price Performance

Shares of NEOG opened at $8.45 on Wednesday. The company has a quick ratio of 2.46, a current ratio of 3.77 and a debt-to-equity ratio of 0.33. The stock has a market cap of $1.83 billion, a PE ratio of -3.86 and a beta of 1.27. Neogen Co. has a 12-month low of $8.44 and a 12-month high of $18.58. The business has a 50-day simple moving average of $10.31 and a two-hundred day simple moving average of $12.86.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Friday, January 10th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.12. The company had revenue of $231.30 million for the quarter, compared to analysts’ expectations of $227.16 million. Neogen had a positive return on equity of 2.89% and a negative net margin of 52.12%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.11 earnings per share. Analysts anticipate that Neogen Co. will post 0.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Neogen

In other Neogen news, CFO David H. Naemura acquired 14,800 shares of Neogen stock in a transaction that occurred on Thursday, January 16th. The shares were bought at an average price of $11.11 per share, with a total value of $164,428.00. Following the completion of the purchase, the chief financial officer now directly owns 61,434 shares in the company, valued at $682,531.74. This trade represents a 31.74 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John Edward Adent bought 23,035 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were bought at an average cost of $11.03 per share, with a total value of $254,076.05. Following the completion of the transaction, the chief executive officer now owns 269,164 shares in the company, valued at $2,968,878.92. The trade was a 9.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.13% of the company’s stock.

About Neogen

Neogen Corporation, together with its subsidiaries, engages in the development, manufacture, and marketing of various products and services dedicated to food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment offers diagnostic test kits and related products to detect dangerous and unintended substances in food and animal feed, including foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test to detect the presence of adenosine triphosphate, a chemical found in living cells, as well as provides genomics-based diagnostic technology and software systems that help testers to objectively analyze and store their results and perform analysis on the results from multiple locations over extended periods.